Resultados provisionales
ESTE ANUNCIO CONTIENE INFORMACIÓN PRIVILEGIADA SEGÚN LA VERSIÓN DEL REINO UNIDO DEL REGLAMENTO DE ABUSO DE MERCADO N.° 596/2014 QUE ES PARTE DE LA LEY INGLESA EN VIRTUD DE LA LEY EUROPEA (RETIRO) DE 2018, Y SUS MODIFICACIONES. A LA PUBLICACIÓN DE ESTE ANUNCIO, ESTA INFORMACIÓN SE CONSIDERA DE DOMINIO PÚBLICO.
19 de marzo de 2024
Fábrica XP plc
("XP Factory", la "Compañía" o el "Grupo")
Resultados provisionales
XP Factory plc (OBJETIVO: XPF), una de las empresas de ocio experiencial más importantes del Reino Unido que opera las marcas Escape Hunt® y Boom Battle Bar®, is pleased to announce its unaudited interim results for the twelve months ended 31 December 2023 ("2023").
Year ended 31 December 2023 (£'000) | Year ended 31 December 2022 (£'000) | % Cambio | |
Ingresos | 44,754 | 22,834 | + 96.0% |
Beneficio bruto | 28,720 | 14,712 | + 95.2% |
EBITDA a nivel de sitio | 15,301 | 7,683 | + 99.2% |
EBITDA ajustado previo a la NIIF 161 | 5,519 | 2,555 | + 116.0% |
EBITDA ajustado1 | 8,038 | 3,955 | + 103.2% |
Operating profit / (loss) before fair value movements2 | 1,763 | (4,938) | nm |
Pérdida por acción (peniques) | (0.26) | (0.66) | nm |
FINANCIERA DESTACADOS
· | Group revenue increased 96% to £44.7m (2022: £22.8m) demonstrating the significant growth in scale: |
- Escape Hunt® owner operated site revenue increased 38% to £13.5m (2022: £9.8m) | |
- Boom Battle Bar® ("Boom") owner operated revenue increased 201% to £28.6m (2022: £9.5m) | |
· | Gross margin maintained at 64.2% (2022: 64.4%) |
· | EBITDA ajustado del grupo anterior a la NIIF 161 increased 116% to £5.5m (2022: £2.6m) |
· | Site level pre IFRS 16 EBITDA increased 64% to £13.6m (2022: £8.3m) |
· | Group Adjusted EBITDA rose 103% to £8.0m (2022: 4.0m) |
· | Beneficio operativo2 of £1.7m was £6.7m ahead of prior year (2022: loss £4.9m) |
· | £9.5m cash generated from operations (2022: £3.2m) - £6.9m invested in capital expenditure |
· | £4.4m cash balance at 31 December 2023 (31 Dec 2022: £3.2m) |
OPERANDO DESTACADOS
· | Comparativo de dos dígitos2 Crecimiento de ventas en ambas marcas operadas por sus propietarios: |
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o | Boom: up 29 % in the 52 weeks to 31 December 2023 |
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o | Escape Hunt®: up 17% in the 52 weeks to 31 December 2023 |
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· | New owner operated Boom sites opened in Dubai in July 2023, Canterbury in September 2023 and Southend in October 2023 | ||
· | Boom franchise sites in Chelmsford and Ealing acquired in June 2023, Glasgow and Liverpool in November 2023, and Watford in December 2023 | ||
· | Boom owner operated site level EBITDA margin of 18% (2022: 13%) | ||
· | New owner operated Escape Hunt site opened in Woking in July 2023 | ||
· | Escape Hunt® owner operated site level EBITDA margin of 42% (2022: 42%) continue to exceed internal targets | ||
· | Pipeline of further site openings developed | ||
· | Continued strong like for like growth in first 10 weeks of 2024 underpins confidence in the future | ||
1 Ganancias antes de intereses, impuestos, depreciación y amortización, calculadas antes de pérdidas previas a la apertura, partidas excepcionales y otras partidas no monetarias. A continuación, en el texto del anuncio, se proporciona una conciliación completa de la pérdida operativa.
2 Excluding £6.2m 'fair value gain' on revaluation of contingent consideration in 2022 and £312k 'fair value loss' in 2023.
Richard Harpham, director ejecutivo de XP Factory, comentó: "I'm delighted with the Company's performance over the last 12 months, and doubling in scale for the second year running is testament to the extraordinary efforts of our team. Both brands have significant runways ahead of them, and I'm excited to have such a robust foundation in place from which to grow further".
Consultas |
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Fábrica XP plc Richard Harpham (director ejecutivo) Graham Bird (director financiero) Kam Bansil (Relaciones con inversores)
| +44 0 20 7846 3322 |
Mercados de capitales de cantante - NOMAD y Broker pedro acero alaina wong James fischer
| +44 0 20 7496 3000 |
Asesoría IFC - Relaciones públicas financieras Graham arenque Florencia Chandler | +44 0 20 3934 6630
|
Acerca de XP Factory plc
The XP Factory Group is one of the UK's pre-eminent experiential leisure businesses which currently operates two fast growing leisure brands. Escape Hunt® is a global leader in providing escape-the-room experiences delivered through a network of owner-operated sites in the UK, an international network of franchised outlets in five continents, and through digitally delivered games which can be played remotely.
Boom Battle Bar® is a fast-growing network of owner-operated and franchised sites in the UK that combine competitive socialising activities with themed cocktails, drinks and street food in a high energy setting. Activities include a range of games such as augmented reality darts, Bavarian axe throwing, 'crazier golf', shuffleboard and others. The Group's products enjoy premium customer ratings and cater for leisure or teambuilding, in small groups or large, and are suitable for consumers, businesses and other organisations. The Company has a strategy to expand the network in the UK and internationally, creating high quality games and experiences delivered through multiple formats and which can incorporate branded IP content. (https://xpfactory.com/)
INFORME DEL JEFE EJECUTIVO
INTRODUCCIÓN
2023 saw XP Factory deliver another year of transformational growth, with sales almost doubling to £44.8m (2022: £22.8m), and pre-IFRS16 Adjusted EBITDA increasing 116% to £5.5m (2022: £2.6m). A significant milestone was achieved, as the business generated for the first time a positive Operating Profit3 of £1.7m, compared to a loss of £4.9m in 2022. While some of this growth came from the four sites opened in the year (3 Boom, 1 Escape Hunt), most was driven by the underlying momentum in the business, the strong like-for-like sales performances across both brands, and the continual improvements in operating margins.
Following such an active year of site openings in 2022, focus in in 2023 was much more about optimising the estate that we had built, and looking for opportunities to create additional capacity where possible. With Boom the much younger brand, we took a particularly analytical approach to its early performance and identified several areas where we could improve operationally, create better customer flows, and target a narrower group of guests in our brand efforts. For Escape Hunt, we were able to build some additional rooms in the existing estate, where peak hours saw us constrained by our capacity. Across both brands, these efforts have yielded a high return on capital and have further cemented our foundation for future growth.
We are extremely pleased with the resilience the business has demonstrated in a challenging consumer environment and believe that our obsession with affordability and customer satisfaction has paid dividends. Whilst the experiential leisure sector continues to exhibit robust structural growth, we are delighted that both Escape Hunt and Boom have delivered LFL sales growth, return on capital employed ("ROCE"), customer review scores and margins significantly ahead of their industry peers. Moreover, the double digit LFL sales growth seen in even our earliest Escape Hunt® sites, some of which have now been trading for six years, reinforces our confidence in the longevity of the model. This has enabled us to re-assess the expected lives of games and leasehold improvements, reducing the annual depreciation charge, described in more detail below. Our overall strategy for the Group has not changed and we look forward to leveraging the robust platform we have created to support significant expansion in the UK and beyond.
3. Before Fair value adjustments relating to share based contingent consideration. 2022: £6.2m gain; 2023: £0.3m loss
Boom Battle Bar®
Operado por el propietario
Boom's owner-operated estate delivered £28.6m sales in the period, a 201% increase versus £9.5m in 2022. The drivers behind this growth include £12.8m from the full year effect of sites opened in 2022, 29% (£2.6m) LFL sales growth from the maturing estate, £1.6m from the three new sites built towards the back end of the year (Dubai, Southend and Canterbury), and £2.1 from the franchisee sites which we bought back. Sales performance over the Christmas period was remarkably strong, with corporate sales 393% ahead of prior year representing 16% of sales (2022: 10%), and consumer demand causing all-time sales records to be beaten in six consecutive weeks.
Margins within the business continue to improve in line with our expectations, with gross profit margins improving to 58% for the year, up from 52% in 2022. Site level EBITDA was 23% in the second half of 2023, resulting in a site level EBITDA margin of 18% for the full year, with this latter number being diluted by young sites making expected losses in their first few weeks of trading. The trajectory is very much as anticipated and provides confidence that our mid-term aspiration of a 20-25% EBITDA margin (pre IFRS 16) is realistic.
Operationally we have continued to focus on improving our customer journey and adapting processes and layouts in line with our learnings. In a number of sites, we have built additional bar capacity where we were constrained previously, and across the board we have refined our offering significantly. This catalogue of small improvements has manifested itself in an average customer satisfaction score of 96% which sit materially ahead of the competition and a ROCE which, at 48%, is market leading.
At 31 December 2023, the Group had 19 owner-operated Boom sites trading.
RECONOCIMIENTOS
Boom's franchise business delivered £1.9m revenue in the year. This anticipated reduction of £1m vs prior year (2022: £2.9m) is largely from the fact that the 2022 revenue included £0.9m relating to the build and subsequent sale of a franchise unit for which there was an associated, offsetting cost of sale. Other changes were driven by the full year effect of sites opened in 2022, offset by Group having bought back Chelmsford, Ealing, Liverpool, Watford and Glasgow in the period, and the full year effect of the buy-backs of franchise sites in Cardiff and Norwich in 2022. These vendor-financed deals are attractive to XP Factory, and we will continue to do similarly if opportunities present themselves and if we believe the risk-adjusted returns match the returns we can make from opening new sites.
Caza de escape®
Owner-operated
In another encouraging year for Escape Hunt, the owner-operated estate generated £13.5m sales, 38% ahead of prior year (FY22: £9.7m). Like for like sales growth was 17% while the earliest cohort of seven sites, which have been operating for over six years and are still playing their original games, grew 19% vs last year. The exceptional LFL growth underpins our confidence in the enduring nature of the concept, and with escape rooms moving ever forwards in the consumer psyche, we remain particularly optimistic about the future of the brand.
Site level EBITDA margins held steady at 42%, even after absorbing meaningful wage increases during the year. Rather than increasing prices to offset rising cost lines, instead we sought to create capacity and drive volume, and in so doing, we proved remarkably resilient, even in a challenging consumer market.
The bolstered corporate sales team delivered 40% more business than in the prior year and the Christmas period again proved to be popular, with corporate bookings representing 5% of total sales, a similar percentage to what has been achieved previously. Our focus on delivering outstanding customer service continued as always, and we were delighted to receive a market leading 99% satisfaction rating, compared to an average of 88% for the leisure industry as a whole and 94% for the competitive socialising sub sector.
The return on capital within Escape Hunt remains extremely high at 46%. Interestingly we are typically seeing an upwards trend in the returns profile, since the new sites being opened tend to mature more quickly now that the brand is becoming better known, and our build costs are holding stable.
Within the year we opened a new Escape Hunt in Woking, bringing our UK site total to 20, and our owner operated total to 23 with the inclusion of Dubai, Paris and Brussels.
RECONOCIMIENTOS
Franchise sales of £0.8m represent a 9% increase vs prior year, and since the units are almost all more than five years old, the performance further demonstrates the longevity and reliance of the business.
ESTRATEGIA
General
Following our recent expansion, the Group is the largest escape room and competitive socialising operator in the UK. This is a fast growing and resilient niche of the leisure sector, with our sites benefiting from industry leading unit economics with further improvement potential. Our experience to date demonstrates the opportunity to expand in the UK and the rationale for taking our proven concept overseas with reduced execution risk. Our strategy to deliver profitable growth is supported by a clear focus on the strength and longevity of return on capital employed available, with accelerated payback periods following initial investment.
Ejecución continua de nuestras prioridades estratégicas.
Nuestras prioridades estratégicas siguen siendo las establecidas anteriormente y hemos seguido avanzando en cada una de estas áreas durante el período:
1. Maximizar la presencia en el Reino Unido mediante el despliegue de cada marca, ya sea a través de inversiones directas en sitios operados por propietarios o mediante acuerdos de franquicia.
Following the aggressive roll-out in 2022, we consciously moderated the pace of roll out during 2023 to ensure we optimise the performance and operations within the enlarged estate. During the period we opened a new Escape Hunt® site in Woking and new Boom in Dubai, Canterbury and Southend. We also acquired former Boom franchise sites in Chelmsford, Ealing, Liverpool, Glasgow and Watford. Since the period end, we have completed our plan to merge our two Escape Hunt® sites in Norwich into the larger unit, bringing the combined owner operated estate to 23 Escape Hunt® venues and 19 Boom Battle Bar® venues.
2. Acelerar el crecimiento en territorios internacionales, en última instancia a través de franquicias.
We opened our first international Boom Battle Bar® in Dubai and continue actively to explore possibilities in other territories. In the short term, as before, our focus will remain the UK with the aim of developing a robust, defensible business capable of international franchise.
3. Continuar desarrollando nuevos productos y mercados que faciliten el crecimiento de las ventas B2B
We put significant investment into our B2B sales capability at the start of the year with both Boom and Escape Hunt® benefitting from strong growth in corporate sales revenue. Escape Hunt® has also developed a new range of outdoor experiences which were rolled out across the estate during 2023 providing additional sales potential and catering to new customers.
4. Integrar los negocios, explotar las sinergias donde sea posible y desarrollar una infraestructura que respalde la escala y el crecimiento futuro
This final objective has taken a greater degree of importance in the period under review as we aim to optimise the performance of the existing business and create a platform that is defensible, attractive to larger scale franchisees and capable of supporting a significantly larger business. During the year we upgraded our in-store point of sale systems as well as migrating to new online booking solutions across the Boom estate. The new systems set the business on a stronger platform and will allow us to scale more efficiently in future.
Posición actual y oportunidad a largo plazo
The Group is now beginning to see the benefits of our enhanced scale providing the foundations for improved efficiency and expanding our competitive advantage. By design, our model is capital efficient, with rapid payback and high return on investment, as well as being eminently scalable with an objective to achieve accelerated market share, superior returns and deliver a consistent customer experience. We aim to continue to receive industry leading satisfaction scores. Our key strengths are as follows:
· Formatos modulares: diseños estandarizados y juegos automatizados
· Growing data sets, learning what does and does not work - all accelerating timescales for sites to reach maturity
· Marca cada vez más confiable con sólidas puntuaciones de reseñas de clientes y reconocimiento de la industria
· Cost advantages of room build through modular off-site construction with fit-out completed on-site
· Favourable rent conditions with frequent landlord incentives provided on new-builds
· Ampliación de las relaciones con los proveedores con la perspectiva de mejorar los márgenes.
The above factors are all helping to drive attractive unit economics, with the potential for enhanced returns in the future. Areas of further potential opportunity include upgrading our games offering in existing sites, widening our food choice, harnessing data insights to a greater extent to optimise site layouts and game offering and using technology to enhance customer experience.
In summary, the experiential leisure industry has proven to be exceptionally robust despite the current pressures on the consumer. However, it remains in its infancy in terms of the wider leisure opportunity in the UK. Competitive socialising participation is growing quickly at 13% p.a. and the Group is ideally positioned to benefit from these structural growth trends. In the short-term, we are seeking to optimise the pace of site roll-out at the pace at which we are able to generate capital. We remain vigilant of evolving trends and continue to actively manage our existing estate as well as evaluating new opportunities to drive profitable growth. We have invested in our capability to analyse data from our sites more thoroughly, both to improve existing sites and to identify the optimal locations for new sites. Initial analysis supports our expectation that in the longer-term, we see an opportunity to scale the business considerably domestically and internationally, with a market opportunity of 50+ Escape Hunt® and 100+ Boom Battle Bar® sites in the UK alone.
REVISIÓN FINANCIERA
Rendimiento financiero
Unaudited Group revenue in the twelve months to 31 December 2023 was £44.8m, an increase of 96% over the same period in 2022. The increase reflects the significant site expansion undertaken in 2022 together with strong like for like sales growth. Escape Hunt® owner-operated revenue grew 38% to £13.5m, reflecting the full year benefit of turnover from new sites opened in 2022 together with 17% like for like sales growth from the existing estate. Boom owner operated revenue grew 201%, reflecting like for like sales growth of 29% and the growth of the owner operated estate from two sites in January 2022 to 19 at 31 December 2023.
Group adjusted EBITDA pre IFRS16 adjustments grew strongly from £2.6m to £5.5m and to £8.0m (2022: £4.0m) after IFRS 16 adjustments.
Twelve months ended Dec 2023 000 £ | Twelve months ended Dec 2022 000 £ | |||||
EBITDA ajustado - antes de la NIIF 16 | 5,519 | 2,555 | ||||
Ajustes a la NIIF 16 | 2,518 | 1,400 | ||||
EBITDA ajustado post NIIF 16 | 8,037 | 3,955 | ||||
Amortización de intangibles | (712) | (886) | ||||
Depreciation of Fixed assets | (2,731) | (2,825) | ||||
Depreciación de activos por derecho de uso | (1,934) | (1,453) | ||||
Créditos de alquiler reconocidos | - | |||||
Pérdida por enajenación de activos tangibles | (89) | (126) | ||||
Utilidad por cierre/modificación de arrendamientos | - | 90 | ||||
Costes de cierre de sucursales y otros costes excepcionales | (57) | (399) | ||||
Costos de preapertura de sucursales | (734) | (2,018) | ||||
Provisión contra préstamo a franquiciado | 4 | (26) | ||||
Ganancias / (pérdidas) en moneda extranjera | 18 | (1,133) | ||||
NIIF 9 Provisión para pérdidas en garantías | 24 | (68) | ||||
Gastos de pago basados en acciones | (63) | (81) | ||||
Operating profit (loss) before fair value movement |
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| 1,763 | (4,938) |
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Movimiento del valor razonable por contraprestación contingente | (312) | 6,210 | ||||
Beneficio operativo |
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| 1,451 | 1,272 |
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The Board has re-assessed the useful life of certain of the Group's fixed assets, notably games and leasehold improvements. Previously, games in both Escape Hunt® and in Boom Battle Bar® were depreciated over two years, whilst leasehold improvements were depreciated over five years. The success of the early Escape Hunt sites which have continued to show strong like for like growth with the original games installed over five years ago, has provided strong evidence that the policy for games was aggressive. The games are regularly maintained with maintenance costs expensed as incurred. The Board has therefore re-assessed the useful life of games to be five years for games in both Escape Hunt® and Boom. Similarly, the leasehold improvements were being depreciated over five years on the basis that the original Escape Hunt® leases had five-year break clauses. Boom sites generally have break clauses after ten years and the success of Escape Hunt® has given confidence that the useful life of leasehold improvements is expected to be at least ten years. The change is regarded as a change in estimate rather than a change in accounting policy. As such, no change has been made to prior year numbers, but depreciation in the twelve months to 31 December 2023 reflects the new estimates. The impact in the current period has been a reduction in depreciation of approximately £2.3m compared to what would have been charged under the previous estimates.
In 2022, the Group recorded a fair value gain on the revaluation of contingent consideration of £6.2m. The treatment is an IFRS requirement and arose from the fall in value of the expected contingent consideration due to the fall in share price between the date on which Boom was acquired (November 2021) and the end of 2022. The contingent consideration was settled by the issue of 23.9m shares to MFT Capital in June 2023, representing 95.7% of the maximum payout. The final settlement of the consideration gave rise to a fair value loss in 2023 of £312k.
£734k of expenditure in the period related to pre-opening costs, largely for the new Boom sites in Dubai, Canterbury and Southend, as well as the new Escape Hunt® site in Woking, but also in relation to sites in Cambridge where we plan both an Escape Hunt® and Boom Battle Bar® site, and Glasgow where a new Escape Hunt® site is planned.
At a site level, Escape Hunt® owner operated segment continued to perform strongly, delivering site-level EBITDA of £5.6m at a margin of 42%. Within the Boom Battle Bar® owner operated segment, gross margins (inclusive of variable labour) improved to 58% from 52% over the same period in 2022. The underlying site level EBITDA margin of 18% (2022: 13%) reflects a site level EBITDA of 23% in H2 2023 versus 11% achieved in the first six months of the year. Whilst the overall result is still below our medium-term target of 20% - 25%, the significant improvement over the first half reflects a strong second half of the year in Boom's business and more significantly continuing maturity of the sites where initial losses and lower margins generated from more recently opened sites diluted the margins achieved in both 2022 and H1 2023.
2023 | Caza de escape® | Caza de escape® | Auge | Auge |
| H1 2023 |
| De mi autoría | RECONOCIMIENTOS | De mi autoría | RECONOCIMIENTOS | Sin asignar | 000 £ |
Ventas | 13,470 | 791 | 28,583 | 1,909 | - | 44,753 |
Beneficio bruto | 9,459 | 791 | 16,560 | 1,909 | - | 28,719 |
EBITDA ajustado a nivel de sitio anterior a la NIIF 16 | 5,631 | 791 | 5,246 | 1,905 | - | 13,573 |
Margen EBITDA a nivel del sitio | 42% | 100% | 18% | 100% |
| 30% |
Costos incurridos centralmente | (480) | (94) | (103) | (27) | (7,350) | (8,054) |
EBITDA ajustado antes de las NIIF | 5,151 | 697 | 5,143 | 1,878 | (7,350) | 5,519 |
Ajustes NIIF (neto de preapertura) | 564 | - | 1,954 | - | - | 2,518 |
Post IFRS 16 EBITDA ajustado | 5,715 | 697 | 7,097 | 1,878 | (7,350) | 8,037 |
2022 | Caza de escape® | Caza de escape® | Auge | Auge |
| 2022 |
| De mi autoría | RECONOCIMIENTOS | De mi autoría | RECONOCIMIENTOS | Sin asignar | 000 £ |
Ventas | 9,773 | 703 | 9,501 | 2,857 | - | 22,834 |
Beneficio bruto | (2,990) | - | (4,541) | (591) | - | (8,122) |
EBITDA ajustado a nivel de sitio anterior a la NIIF 16 | 4,095 | 703 | 1,270 | 2,279 | - | 8,347 |
Margen EBITDA a nivel del sitio | 42% | 100% | 13% | 80% |
| 37% |
Otros ingresos | 141 | - | - | - | 6 | 147 |
Costos incurridos centralmente | (63) | (134) | (188) | (105) | (5,449) | (5,939) |
EBITDA ajustado antes de las NIIF | 4,173 | 569 | 1,082 | 2,174 | (5,443) | 2,555 |
Ajustes NIIF (neto de preapertura) | 613 | - | 787 | - | - | 1,400 |
Post IFRS 16 EBITDA ajustado | 4,786 | 569 | 1,869 | 2,174 | (5,443) | 3,955 |
Central costs of £8.1m reflect the full year effects of growth in 2022 to support the larger estate, covering operations, marketing, finance and other support functions as well as further growth in 2023 commensurate with the addition of further sites. There has also been an impact from inflation as salaries and other central costs have risen in line with market rates.
Interest costs of £294k reflect the fit out, finance lease and vendor finance utilised.
Unaudited Group operating profit was £1.5m (2022: £1.3m). Loss before tax was £0.5m leading to a basic loss per share of 0.26p. (2022: 0.66p loss) Note that the 2022 results included a £6.2m gain on revaluation of contingent consideration relating to the earn out payment for Boom.
Flujo de fondos
The Group generated £9.5m of cash from operations (2022: £3.3m). £6.9m was invested in plant and equipment and intangibles. This comprised total investment of £5.3m within Boom owner-operated sites and £1.4m in Escape Hunt® owner operated sites.
Within Boom, a total of £3.4m related to investment in new sites, including final capex on sites opened in late 2022, but principally the new sites opened during the year in Dubai, Canterbury and Southend. £1.0m was directed to existing sites to make improvements and expand capacity, which has provided very attractive returns, £0.7m reflects maintenance capex, and £0.2m reflects the conversion of operating leases on certain games to finance leases following a re-negotiation with the supplier.
A total of £1.4m was invested into Escape Hunt® of which £0.9m was invested in new sites, including Woking (£0.5m) and games pre-ordered for further new sites planned in Glasgow and Cambridge. £0.3m was invested in extending existing sites through the addition of new rooms, and £0.2m represented maintenance capex.
£600k was paid for the second deferred consideration instalment for the acquisition of Boom Cardiff (shown within movements in provisions), whilst the final deferred consideration payment of £360k was paid relating to the original Boom acquisition. In total, £2.1m of debt repayments were made (inclusive of the Cardiff and MFT Capital deferred consideration payments), whilst £2.2m of new debt was raised (excluding vendor finance), comprising £0.8m fit-out finance, £1.2m of bank and other borrowings and £0.2m of equipment rentals treated as finance leases.
The acquisitions of Boom franchises in Chelmsford, Ealing, Liverpool, Glasgow and Watford were all partly funded by vendor loans such that the acquisitions led to only a modest outflow of cash of £61k on completion as the Group received the benefit of existing cash balances totalling £236k. Vendor loans in respect of the acquisitions made during the year totalled £2.1m. £1.5m of vendor loans remained outstanding at 31 December 2023.
Cash at 31 December 2023 was £4.4m (31 Dec 2022: £3.2m), and net debt/net cash, excluding IFRS 16 lease liabilities was £0.0m (2022: net cash £0.8m).
Hoja de balance
As mentioned above, the Group has utilised various forms of funding to finance the ongoing expansion of the estate both through building new sites and the buy-back of franchise sites. As a result, gross debt inclusive of provisions for deferred consideration increased from £2.4m to £4.5m.
Net assets as at 31 December 2023 were £24.5m (31 December 2022: £21.6m). Group net debt was £0.0m (31 Dec 2022: net cash £0.8m).
As announced on 4 August 2023, the Company's year-end has been moved to 31 March. As a result, the Group's current financial year will comprise 15 months from 1 January 2023 to 31 March 2024. Following these unaudited interim results for the twelve months to 31 December 2023, the Board intends to report as follows, in each case with appropriate comparatives:
· Resultados finales auditados para los quince meses hasta el 31 de marzo de 2024: publicación antes del 30 de septiembre de 2024
· Resultados provisionales no auditados para el semestre hasta el 30 de septiembre de 2024: publicación antes del 31 de diciembre de 2024
NEGOCIACIÓN Y PERSPECTIVAS POSTERIOR AL FINAL DEL PERÍODO
Both Escape Hunt® and Boom Battle Bar® have continued to deliver strong like for like sales growth in the first 10 weeks of 2024 (11% and 9% respectively), and the new sites and recently acquired former franchise sites are performing in line our anticipated maturity profiles. As we have come to expect, half term in February proved particularly successful for Escape Hunt, and at Boom, the operational focus over the last 12 months continues to yield the margin and customer improvements that were targeted. We remain confident about the outlook for the business and the board is confident that the results to 31 March 2024 will be in line with market expectations.
ricardo harpham
Director Ejecutivo
19 de marzo de 2024
DECLARACIÓN DE RESPONSABILIDADES DE LOS ADMINISTRADORES CON RESPECTO AL INFORME INTERMEDIO CONDENSADO Y ESTADOS FINANCIEROS CONDENSADOS
Los directores confirman que la información financiera intermedia consolidada condensada ha sido preparada de acuerdo con la Norma Internacional de Contabilidad 34, 'Información Financiera Intermedia', y que el Informe Intermedio incluye una revisión justa de la información requerida por DTR 4.2.7R y DTR 4.2.8R , a saber:
· | an indication of important events that have occurred during the first twelve months and their impact on the condensed consolidated interim financial information, and a description of the principal risks and uncertainties for the remaining three months of the financial year; and |
· | material related-party transactions in the first twelve months and any material changes in the related-party transactions described in the last Annual Report. |
Los directores de XP Factory plc figuran en la página 33 de este informe. En el sitio web de la Compañía se mantiene una lista de los directores actuales: https://www.xpfactory.com/investors/key-people
Por orden de la Junta
ricardo rosa
Presidente no ejecutivo
ESTADO DE RESULTADOS INTEGRALES CONSOLIDADO CONDENSADO
FOR THE TWELVE MONTHS ENDED 31 December 2023
Doce meses terminaron | Doce meses terminaron |
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31 dic 2023 | 31 dic 2022 |
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Note | Sin auditar | auditado |
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Operaciones continuas | 000 £ | 000 £ |
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Ingresos | 44,574 | 22,834 | |||||
El costo de ventas | (16,034) | (8,122) | |||||
Beneficio bruto | 28,720 | 14,712 | |||||
Otros ingresos | 42 | 74 | |||||
Fair Value adjustment on contingent consideration | (312) | 6,210 | |||||
Gastos administrativos | (26,999) | (19,724) | |||||
Beneficio operativo | 1,451 | 1,272 | |||||
EBITDA ajustado | 8,037 | 3,954 | |||||
Amortización de intangibles | (712) | (886) | |||||
Depreciación de activos fijos tangibles | (2,731) | (2,825) | |||||
Depreciación de activos por derecho de uso | (1,934) | (1,453) | |||||
Rent credits / concessions recognised | - | 33 | |||||
Pérdida por enajenación de activos tangibles | (89) | (126) | |||||
Utilidad por cierre/modificación de arrendamientos | - | 90 | |||||
Costes de cierre de sucursales y otros costes excepcionales | (57) | (399) | |||||
Costos de preapertura de sucursales | (734) | (2,018) | |||||
Provisión contra préstamo a franquiciado | 4 | (26) | |||||
Ganancias / (pérdidas) en moneda extranjera | 18 | (1,133) | |||||
Movimiento del valor razonable por contraprestación contingente | (312) | 6,210 | |||||
NIIF 9 Provisión para pérdidas en garantías | 24 | (68) | |||||
Gastos de pago basados en acciones | (63) | (81) | |||||
Beneficio operativo | 1,451 | 1,272 | |||||
Interés recibido | 144 | 82 | |||||
Gastos por intereses | (294) | (1,374) | |||||
Cargos por financiamiento de arrendamiento | 13 | (1,836) | (1,086) | ||||
Pérdida antes de impuestos | (535) | (1,106) | |||||
Taxation | 7 | 104 | 112 | ||||
Pérdida después de impuestos | (431) | (994) | |||||
Otro resultado integral: | |||||||
Partidas que pueden o serán reclasificadas a resultados: | |||||||
Diferencias de cambio en la conversión de operaciones en el extranjero | (169) | 363 | |||||
Pérdida integral total | (600) | (631) | |||||
Pérdida atribuible a: | |||||||
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Accionistas de XP Factory plc | (431) | (994) | |||||
(431) | (994) | ||||||
Pérdida integral total atribuible a: | |||||||
Accionistas de XP Factory plc | (600) | (631) | |||||
(600) | (631) | ||||||
Pérdida por acción atribuible a los accionistas:
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Básico (peniques) | 6 | (0.26) | (0.66) |
ESTADO DE SITUACIÓN FINANCIERA CONDENSADO CONSOLIDADO
AS AT 31 December 2023
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Como en 20122012 | Como en 20122012 | |||||
31 diciembre | 31 diciembre | |||||
2023 | 2022 | |||||
Note | Sin auditar | auditado | ||||
000 £ | 000 £ | |||||
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BIENES | ||||||
Activos no corrientes | ||||||
Propiedad, planta y equipo. | 8 | 19,419 | 12,753 | |||
Activos por derecho de uso | 9 | 20,329 | 17,842 | |||
Activos intangibles | 10 | 23,653 | 22,696 | |||
Arrendamiento financiero por cobrar | 9 | 1,366 | 1,273 | |||
Depósitos de alquiler | 60 | 61 | ||||
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64,827 | 54,625 | |||||
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Activos circulantes | ||||||
Los inventarios | 435 1,5941, | 323 | ||||
Cuentas por cobrar comerciales | 897 | 1,934 | ||||
Otras cuentas por cobrar y pagos anticipados | 2,140 | 1,839 | ||||
Efectivo y saldos bancarios | 4,431 | 3,189 | ||||
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7,903 | 7,285 | |||||
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LOS ACTIVOS TOTALES | 73,034 | 61,910 | ||||
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PASIVO | ||||||
Pasivo circulante | ||||||
Comercio a pagar | 3,157 | 1,837 | ||||
Pasivos contractuales | 2,095 | 1,029 | ||||
Préstamos | 14 | 2,185 | 1,057 | |||
Pasivos por arrendamiento | 13 | 1,819 | 1,073 | |||
Otras cuentas por pagar y devengos | 7,248 | 5,259 | ||||
Provisiones | 12 | 41 | 4,970 | |||
16,545 | 15,215 15,225 | |||||
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 (continued)
Como en | Como en | ||||||
31 diciembre | 31 diciembre | ||||||
2022 | 2022 | ||||||
Note | Sin auditar | auditado | |||||
000 £ | 000 £ | ||||||
Pasivos no corrientes | |||||||
Pasivos contractuales | 74 | 455 | |||||
Provisiones | 12 | 525 | 413 | ||||
Préstamos | 14 | 2,269 | 423 | ||||
Pasivo por impuestos diferidos | 337 | 832 | |||||
Pasivos por arrendamiento | 13 | 27,495 | 22,965 | ||||
- | |||||||
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30,700 | 25,088 | ||||||
RESPONSABILIDAD TOTAL | 47,245 | 40,313 | |||||
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ACTIVOS NETOS | 25,485 | 21,597 | |||||
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EQUIDAD | |||||||
Capital y reservas atribuibles a los accionistas de XP Factory plc | |||||||
Capital social | 15 | 2,182 | 1,883 | ||||
Compartir cuenta premium | 48,832 | 44,705 | |||||
Reserva de alivio para fusiones | 4,756 | 4,756 | |||||
Perdidas acumuladas
| (30,742) | (30,312) | |||||
Reserva de conversión de moneda | 110 | 279 | |||||
Reserva de amortización de capital | 46 | 46 | |||||
Reserva de pago basada en acciones | 301 | 240 | |||||
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EQUIDAD TOTAL | 25,485 | 21,597 | |||||
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ESTADO DE CAMBIOS EN EL PATRIMONIO CONDENSADO CONSOLIDADO
Capital social | Compartir cuenta premium | Reserva de alivio para fusiones | Reserva de conversión de moneda | Reserva de amortización de capital | Reserva de pago basada en acciones |
| Perdidas acumuladas | Total | |
Reserva de nota de préstamo convertible | |||||||||
Doce meses terminaron 31 diciembre 2023 | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ |
| 000 £ | 000 £ |
000 £ | |||||||||
Equilibrio como en 1 de enero de 2023 | 1,883 | 44,705 | 4,756 | 279 | 46 | 240 | - | (30,312) | 21,597 |
Pérdida del período | - | - | - | - | - | - | - | (431) | (431) |
Otro resultado integral | - | - | - | (169) | - | - | - | - | (169) |
Pérdida integral total | - | - | - | (169) | - | - | - | (431) | (600) |
Emisión de acciones | 299 | 4,127 | - | - | - | - | - | - | 4,426 |
Cargo por pago basado en acciones | - | - | - | - | - | 62 | - | - | 62 |
Transacciones con propietarios | 299 | 4,127 | - | - | - | 62 | - | - | 4,488 |
Saldo al 31 de diciembre de 2023 | 2,182 | 48,832 | 4,756 | 110 | 46 | 301 | - | (30,742) | 25,485 |
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Doce meses terminaron 31 diciembre 2022 | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ |
Equilibrio como en 1 de enero de 2022 | 1,825 | 44,366 | 4,756 | (83) | 46 | 158 | 68 | (29,318) | 21,817 |
Pérdida del período | - | - | - | - | - | - | - | (994) | (994) |
Otro resultado integral | - | - | - | 363 | - | - | - | - | 363 |
Pérdida integral total | - | - | - | 363 | - | - | - | (994) | (631) |
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Emisión de acciones | 3 | - | - | - | - | - | - | - | 3 |
Canje de notas de préstamos convertibles | 55 | 339 | - | - | - | - | (68) | - | 326 |
Cargo por pago basado en acciones | - | - | - | - | - | 82 | - | - | 82 |
Transacciones con propietarios | 58 | 339 | - | - | - | 82 | (68) | - | 411 |
Saldo al 31 de diciembre de 2022 | 1,883 | 44,705 | 4,756 | 279 | 46 | 240 | - | (30,312) | 21,597 |
ESTADO DE FLUJOS DE EFECTIVO CONDENSADO CONSOLIDADO
FOR THE TWELVE MONTHS ENDED 31 December 2022
Doce meses terminaron | Doce meses terminaron | ||||||
31 de diciembre 2023 | 31 de diciembre 2022 | ||||||
Sin auditar | auditado | ||||||
flujos de efectivo por actividades operacionales | Note | 000 £ | 000 £ | ||||
Pérdida antes del impuesto sobre la renta | (535) | (1,106) | |||||
Ajustes: | |||||||
Depreciación de propiedades, planta y equipo | 8 | 2,731 | 2,825 | ||||
Depreciación de activos por derecho de uso | 9 | 1,934 | 1,453 | ||||
Amortización de activos intangibles | 10 | 712 | 886 | ||||
Movimiento del valor razonable en contraprestación contingente | 312 | (6,210) | |||||
Provisión contra activos no corrientes | (4) | 26 | |||||
Pérdida por baja de propiedad, planta y equipo | 89 | 126 | |||||
Gastos de pago basados en acciones | 81 | ||||||
Movimientos de moneda extranjera | (179) | 348 | |||||
Cargos por intereses de arrendamiento | 12 | 1,836 | 1,086 | ||||
Concesiones de alquiler recibidas | 12 | - | (33) | ||||
Utilidad por cierre/modificación de arrendamientos | - | (90) | |||||
Gastos por intereses / (ingresos) | 151 | 1,292 | |||||
Flujo de caja operativo antes de cambios en el capital de trabajo | 7,109 | 684 | |||||
Disminución de cuentas por cobrar comerciales y otras | 805 | 1,359 | |||||
Aumento de stock y WIP | (48) | 184 | |||||
Aumento de cuentas por pagar comerciales y otras | 2,646 | 1,571 | |||||
Aumento de provisiones | (816) | (160) | |||||
Aumento / (disminución) de los ingresos diferidos | (201) | (317) | |||||
Efectivo generado / (utilizado) en operaciones | 9,495 | 3,321 | |||||
Impuestos a la renta pagados | 17 | - | |||||
Efectivo neto generado / (utilizado) en actividades operativas | 9,512 | 3,321 | |||||
Flujos de efectivo de actividades de inversión | |||||||
Compra de propiedad, planta y equipo | 8 | (6,750) | (8,998) | ||||
Landlord incentive received | 500 | 2,914 | |||||
Compra de intangibles | 10 | (181) | (217) | ||||
Pago de depósitos | - | (16) | |||||
Movimiento en Préstamos adelantados a franquiciados | - | 84 | |||||
Adquisición de subsidiaria, neto de efectivo adquirido | (64) | (436) | |||||
Interés recibido | 103 | 82 | |||||
Efectivo neto utilizado en actividades de inversión | (6,392) | (6,587) | |||||
Flujos de efectivo de actividades de financiación | |||||||
Producto de la emisión de acciones ordinarias | 13 | - | 6 | ||||
Pagos de interés | (346) | (147) | |||||
Pagos de intereses de arrendamiento financiero | 12 | (464) | (444) | ||||
Pagos de capital por arrendamiento financiero | 12 | (1,850) | (741) | ||||
Movimientos de préstamos | 790 | (451) | |||||
Efectivo neto generado / (utilizado) de actividades de financiación | (1,870) | (1,777) | |||||
Aumento / (disminución) neto en efectivo y saldos bancarios | 1,250 | (5,043) | |||||
Efectivo y equivalentes de efectivo al comienzo del período | 3,189 | 8,225 | |||||
Variaciones del tipo de cambio del efectivo mantenido en moneda extranjera | (8) | 7 | |||||
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| 3 | ||||||
Efectivo y equivalentes de efectivo al final del período | 4,431 | 3,189 |
NOTAS AL INFORME PROVISIONAL NO AUDITADO
FOR THE TWELVE MONTHS ENDED 31 December 2022
1. Información general
La Compañía fue constituida en Inglaterra el 17 de mayo de 2016 bajo el nombre de Dorcaster Limited con número de registro 10184316 como una compañía privada con responsabilidad limitada bajo la Ley de Compañías de 2006. La Compañía fue re-registrada como una compañía pública el 13 de junio de 2016 y cambió su nombre a Dorcaster Plc el 13 de junio de 2016. El 8 de julio de 2016, las acciones de la Compañía fueron admitidas a AIM.
Hasta su adquisición de Experiential Ventures Limited el 2 de mayo de 2017, la Compañía era una compañía inversora (como se define en las Reglas AIM para Compañías) y no cotizaba.
El 2 de mayo de 2017, la Compañía dejó de ser una compañía inversora al completarse la adquisición de la totalidad del capital social emitido de Experiential Ventures Limited. Experiential Ventures Limited era la sociedad holding del Grupo Escape Hunt®, cuyas actividades se relacionaban únicamente con la franquicia.
El 2 de mayo de 2017, el nombre de la empresa se cambió a Escape Hunt® plc y se convirtió en la sociedad holding del grupo Escape Hunt® ampliado. Posteriormente, el grupo estableció el negocio operado por el propietario Escape Hunt® que opera a través de una subsidiaria en el Reino Unido. Posteriormente, toda la actividad de la franquicia Escape Hunt® se transfirió a una filial en el Reino Unido. El 22 de noviembre de 2021, la Compañía adquirió BBB Franchise Limited, junto con sus subsidiarias que operan colectivamente como Boom Battle Bars. Al mismo tiempo, el Grupo tomó medidas para cambiar su nombre a XP Factory Plc y el cambio entrará en vigor el 3 de diciembre de 2021.
XP Factory Plc opera actualmente dos marcas de ocio de rápido crecimiento. Escape Hunt® es un líder mundial en el suministro de experiencias de escape de la habitación entregadas a través de una red de sitios operados por sus propietarios en el Reino Unido, una red internacional de establecimientos franquiciados en los cinco continentes y a través de juegos entregados digitalmente que se pueden jugar de forma remota.
Boom Battle Bar® es una red de rápido crecimiento de sitios operados por propietarios y franquiciados en el Reino Unido que combinan actividades de socialización competitivas con cócteles temáticos, bebidas y comida callejera en un entorno divertido y lleno de energía. Las actividades incluyen una variedad de juegos como dardos de realidad aumentada, lanzamiento de hacha bávara, "golf más loco", tejo y otros.
El domicilio social de la Compañía es Ground Floor and Basement Level, 70-88 Oxford Street, Londres, Inglaterra, W1D 1BS.
La información financiera intermedia consolidada representa los resultados consolidados no auditados de la Compañía y sus subsidiarias (denominados en conjunto "el Grupo"). Los Estados Financieros Intermedios Consolidados se presentan en libras esterlinas, que es la moneda del entorno económico principal en el que opera la Compañía.
2. Base de preparación
Estos estados financieros intermedios consolidados han sido preparados de acuerdo con la NIC 34 Información Financiera Intermedia. No incluyen todas las revelaciones que de otro modo se requerirían en un conjunto completo de estados financieros y deben leerse junto con el informe anual de 2022. Los estados financieros legales para el año terminado el 31 de diciembre de 2022 se prepararon de acuerdo con las Normas Internacionales de Información Financiera de acuerdo con los requisitos de la Ley de Sociedades de 2006. Los auditores informaron sobre esos estados financieros; su informe de auditoría no tenía salvedades.
La información financiera intermedia no está auditada y no constituye cuentas legales según se define en la Ley de Sociedades de 2006.
The interim financial information was approved and authorised for issue by the Board of Directors on 19 March 2024.
3. Preocupación continua
Los estados financieros han sido preparados sobre una base de negocio en marcha que contempla la continuidad de las actividades comerciales normales y la realización de activos y la liquidación de pasivos en el curso ordinario de los negocios.
Los directores han evaluado la capacidad del Grupo para continuar con su existencia operativa en el futuro previsible de acuerdo con la Guía del Financial Reporting Council sobre la base de contabilidad y presentación de informes sobre riesgos de solvencia y liquidez emitida en abril de 2016.
The Board has prepared detailed cashflow forecasts covering a thirty-nine-month period from the reporting date. The forecasts take into account the Group's plans to continue to expand the network of both Boom Battle Bar® and Escape Hunt® sites through organic growth. The forecasts consider downside scenarios reflecting the potential impact of an economic slowdown, delays in the roll out of sites and inflationary pressures. Based on the assumptions contained in the scenarios considered and taking into account mitigating actions that could be taken in the event of adverse circumstances, the directors consider there are reasonable grounds to believe that the Group will be able to pay its debts as and when they become due and payable, as well as to fund the Group's future operating expenses. The going concern basis preparation is therefore considered to be appropriate in preparing these financial statements.
4. Políticas contables importantes
La Compañía ha aplicado las mismas políticas contables, presentación, métodos de cálculo, juicios significativos y las fuentes clave de estimación de incertidumbres en sus estados financieros intermedios consolidados que en sus estados financieros auditados por el año terminado el 31 de diciembre de 2022, que han sido preparados en de conformidad con las Normas Internacionales de Información Financiera de conformidad con las normas internacionales de contabilidad de conformidad con los requisitos de la Ley de Sociedades de 2006.
5. Información de segmento
Los segmentos operativos se informan de manera coherente con los informes internos proporcionados a la máxima autoridad en la toma de decisiones operativas. El máximo responsable de la toma de decisiones operativas, responsable de la asignación de recursos y la evaluación del desempeño de los segmentos operativos, ha sido identificado como el grupo de directores ejecutivos y director ejecutivo que toman las decisiones estratégicas.
La gerencia considera que el Grupo tiene cuatro segmentos operativos. Los ingresos se revisan en función de la naturaleza de los servicios prestados bajo cada una de las marcas Escape Hunt® y Boom Battle Bar® de la siguiente manera:
1. El negocio de franquicia Escape Hunt®, que comprende 22 sitios, donde todas las sucursales franquiciadas operan efectivamente bajo el mismo modelo;
2. The Escape Hunt® owner-operated branch business, which as at 31 December 2023 consisted of 21 Escape Hunt® sites in the UK, one in Dubai, one in Paris and one in Brussels;
3. El negocio de franquicia Boom Battle Bar®, que comprende 11 sitios, donde todas las sucursales franquiciadas operan bajo el mismo modelo dentro de la marca Boom Battle Bar®; y
4. The Boom Battle Bar® owner-operated business, which as at 31 December 2022 comprised 19 Boom Battle Bar® sites in the.
The Group operates on a global basis. As at 31 December 2023, the Company had active Escape Hunt® franchisees in 10 countries. The Company does not presently analyse or measure the performance of the franchising business into geographic regions or by type of revenue, since this does not provide meaningful analysis to managing the business.
| Propietario de Escape Hunt® operado | Franquicia Escape Hunt® |
Boom Operado por el propietario |
Franquicia Boom | Sin asignar | Total | |
Doce meses terminados el 31 de diciembre de 2023 | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Ingresos | 13,470 | 791 | 28,584 | 1,909 | - | 44,754 | |
El costo de ventas | (4,011) | - | (12,023) | - | - | (16,034) | |
Beneficio bruto |
| 9,459 | 791 | 16,561 | 1,909 | - | 28,720 |
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Costos operativos a nivel de sitio | (4,162) | - | (11,984) | - | - | (16,146) | |
Otros ingresos | 29 | - | 6 | - | - | 35 | |
Ajuste NIIF 16 | 710 | - | 1,954 | - | - | 2,664 | |
Ajuste NIIF 16 - preapertura | 27 | 27 | |||||
EBITDA a nivel de sitio |
| 6,036 | 791 | 6,564 | 1,909 | - | 15,300 |
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Gastos generales incurridos de forma centralizada | (524) | (133) | (59) | (28) | (7,735) | (8,479) | |
depreciación y amortización | (1,862) | (136) | (2,973) | (357) | (49) | (5,377) | |
Otra entrada | - | - | - | - | 7 | 7 | |
Ganancia / (pérdida) operativa |
| 3,650 | 522 | 3,532 | 1,524 | (7,777) | 1,451 |
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EBITDA ajustado | 5,716 | 696 | 7,098 | 1,878 | (7,351) | 8,037 | |
depreciación y amortización | (941) | (136) | (1,960) | (357) | (49) | (3,443) | |
Depreciación de activos por derecho de uso | (921) | - | (1,013) | - | - | (1,934) | |
Cierres excepcionales de oficinas y profesionales | (46) | - | 14 | (1) | (24) | (57) | |
Costos de pre-apertura | (117) | - | (617) | - | - | (734) | |
Provisión contra pérdidas en garantía | - | - | - | - | 24 | 24 | |
Reverse provision against loan to franchisee | - | - | - | 4 | - | 4 | |
Ajuste del valor razonable sobre contraprestación contingente | - | - | - | - | (312) | (312) | |
Pérdida por enajenación de activos. | (41) | - | (46) | - | (2) | (89) | |
Ganancias en moneda extranjera | - | (38) | 56 | - | - | 18 | |
Gastos de pago basados en acciones | - | - | - | - | (63) | (63) | |
Beneficio operativo |
| 3,650 | 522 | 3,532 | 1,524 | (7,777) | 1,451 |
Ingresos por intereses | 144 | 144 | |||||
Gastos por intereses | (294) | (294) | |||||
Cargos por arrendamiento financiero | (298) | - | (1,538) | - | - | (1,836) | |
Beneficio/(pérdida) de operaciones antes de impuestos | 3,352 | 522 | 1,994 | 1,524 | (7,927) | (535) | |
Taxation | (6) | 3 | 24 | 83 | - | 104 | |
Beneficio / (pérdida) del período | 3,346 | 525 | 2,018 | 1,607 | (7,927) | (431) | |
Más información (opcional – piso, bloque edificio, puerta, etc.): | |||||||
Activos no corrientes | 7,200 | 89 | 33,503 | 2,662 | 21,373 | 64,827 |
| Propietario de Escape Hunt® operado | Franquicia Escape Hunt® |
Boom Operado por el propietario |
Franquicia Boom | Sin asignar | Total | |
Doce meses terminados el 31 de diciembre de 2022 | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Ingresos | 9,773 | 703 | 9,501 | 2,857 | - | 22,834 | |
El costo de ventas | (2,990) | - | (4,541) | (591) | - | (8,122) | |
Beneficio bruto |
| 6,783 | 703 | 4,960 | 2,266 | - | 14,712 |
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Costos operativos a nivel de sitio | (3,227) | - | (6,008) | - | - | (9,235) | |
Otros ingresos | 141 | - | - | - | - | 141 | |
Ajuste NIIF 16 | 666 | - | 1,399 | - | - | 2,065 | |
EBITDA a nivel de sitio |
| 4,363 | 703 | 351 | 2,266 | - | 7,683 |
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Gastos generales incurridos de forma centralizada | (156) | (188) | (188) | (173) | (6,847) | (7,552) | |
depreciación y amortización | (2,552) | (136) | (1,798) | (439) | (240) | (5,165) | |
Otros ingresos | - | - | - | - | 6,216 | 6,216 | |
Ajuste NIIF16 | 90 | - | - | - | - | 90 | |
Ganancia / (pérdida) operativa |
| 1,745 | 379 | (1,635) | 1,654 | (871) | 1,272 |
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EBITDA ajustado | 4,782 | 569 | 1,870 | 2,174 | (5,440) | 3,955 | |
depreciación y amortización | (2,102) | (136) | (795) | (439) | (240) | (3,712) | |
Depreciación de activos por derecho de uso | (450) | - | (1,003) | - | - | (1,453) | |
Cierres excepcionales de oficinas y profesionales | (107) | (31) | (64) | (13) | (184) | (399) | |
Beneficio por cierre/modificación de arrendamientos | 90 | - | - | - | - | 90 | |
Costos de pre-apertura | (375) | - | (1,643) | - | - | (2,018) | |
Provisión contra préstamo a franquiciado | - | (26) | - | - | - | (26) | |
Provisión contra pérdidas en garantía | - | - | - | (68) | - | (68) | |
Ajuste del valor razonable sobre contraprestación contingente | - | - | - | - | 6,210 | 6,210 | |
Pérdida por enajenación de activos. | (126) | - | - | - | - | (126) | |
Ganancias en moneda extranjera | - | 4 | - | - | (1,137) | (1,133) | |
Créditos de alquiler reconocidos en el año. | 33 | - | - | - | - | 33 | |
Gastos de pago basados en acciones | - | - | - | - | (81) | (81) | |
Beneficio operativo |
| 1,745 | 380 | (1,635) | 1,654 | (872) | 1,272 |
Ingresos/gastos por intereses | - | - | (56) | 39 | (1,275) | (1,292) | |
Cargos por arrendamiento financiero | (229) | - | (857) | - | - | (1,086) | |
Beneficio/(pérdida) de operaciones antes de impuestos | 1,516 | 380 | (2,548) | 1,693 | (2,147) | (1,106) | |
Taxation | - | 2 | - | 110 | - | 112 | |
Beneficio / (pérdida) del período | 1,516 | 382 | (2,548) | 1,803 | (2,147) | (994) | |
Más información (opcional – piso, bloque edificio, puerta, etc.): | |||||||
Activos no corrientes | 6,851 | 195 | 24,473 | 4,559 | 18,247 | 54,325 |
6. Pérdida por acción
La pérdida básica por acción se calcula dividiendo la pérdida atribuible a los accionistas entre el número promedio ponderado de acciones ordinarias en circulación durante el período. La pérdida por acción diluida no se presenta ya que la emisión potencial de acciones ordinarias a partir del ejercicio de opciones es anti-dilutiva.
Doce meses | Doce meses | |
terminó | terminó | |
31 diciembre | 31 diciembre | |
2023 | 2022 | |
Sin auditar | auditado | |
£ | £ | |
Pérdida después de impuestos (£ 000) | (431) | (994) |
Número medio ponderado de acciones: | ||
- Básico y diluido | 162,955,895 | 150,043,518 |
Pérdida por acción (peniques) | ||
- Básico y diluido | (0.26) | (0.66) |
7. Taxation
El cargo fiscal se basa en la tasa impositiva efectiva esperada para el año. The Group estimates it has tax losses of approximately £24.5m as at 31 December 2023 (31 Dec 2022: £22.4m) which, subject to agreement with taxation authorities, would be available to carry forward against future profits. The estimated tax value of such losses amounts to approximately £6.1m (31 Dec 2022: £5.6m).
8. Propiedad, planta y equipo.
Propiedad en arrendamiento | Equipo de oficina | Ordenadores |
Muebles y accesorios |
Juegos |
Total | |
000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |
Cost | ||||||
Al 31 de diciembre de 2022 | 13,190 | 51 | 325 | 1,609 | 6,761 | 21936 |
Adiciones derivadas de compras | 3,016 | 28 | 282 | 1,238 | 2,186 | 6,750 |
Disposiciones | (201) | - | (8) | (129) | (89) | (427) |
Adiciones derivadas de la adquisición | 2,026 | 25 | 28 | 373 | 246 | 2,698 |
Reclasificación | 400 | - | - | - | - | 400 |
Diferencias de conversión | (27) | - | (1) | 13 | 5 | (10) |
Al 31 de diciembre de 2023 | 18,404 | 104 | 626 | 3,104 | 9,109 | 31,347 |
Depreciación acumulada | ||||||
Al 31 de diciembre de 2022 | (4,167) | (50) | (147) | (528) | (4,291) | (9,183) |
Cargo de depreciación | (1,469) | (3) | (108) | (383) | (769) | (2,732) |
Disposiciones | 180 | - | 8 | 110 | 41 | 339 |
Adiciones derivadas de adquisiciones | (340) | (4) | (2) | (29) | (7) | (382) |
Diferencias de conversión | 35 | 1 | 2 | (10) | 2 | 30 |
Al 31 de diciembre de 2023 | (5,761) | (56) | (247) | (840) | (5,024) | (11,928) |
Cantidades en libros | ||||||
Al 31 de diciembre de 2022 | 9,023 | 1 | 178 | 1,081 | 2,470 | 12,753 |
Al 31 de diciembre de 2023 | 12,643 | 48 | 379 | 2,264 | 4,085 | 19,419 |
9. Activos por derecho de uso
Como en 31 diciembre 2023 | Como en 31 DIC 2022 | |
000 £ | 000 £ | |
Terrenos y construcciones - costo de activo por derecho de uso b/f | 20,484 | 8,920 |
Cierres / arrendamientos terminados para renegociación durante el período | - | (411) |
Adiciones durante el año, incluso a través de adquisiciones | 5,634 | 15,018 |
Incentivos de arrendamiento | (1,213) | (2,914) |
Menos: depreciación acumulada b / f | (2,642) | (1,318) |
Depreciación cargada por el período | (1,934) | (1,453) |
Valor neto contable | 20,329 | 17,842 |
The additions in the period relate to new leases signed together with leases recognised under IFRS 16 at the point of acquisition. The Group leases land and buildings for Escape Hunt® and Boom Battle Bar® venues under agreements of between five to fifteen years with, in some cases, options to extend. The leases have various escalation clauses. On renewal, the terms of the leases are renegotiated.
Durante 2022, el Grupo firmó un contrato de arrendamiento sobre un local en Bournemouth donde una parte de la propiedad está subarrendada a un franquiciado de Boom. El valor total del arrendamiento principal se reconoce dentro del pasivo por arrendamiento, mientras que el subarrendamiento se ha reconocido como una cuenta por cobrar de arrendamiento financiero.
Arrendamiento financiero por cobrar | Año terminado 31 diciembre 2023 | Año terminado 31 DIC 2022 |
000 £ | 000 £ | |
| ||
Saldo al inicio del período | 1,273 | - |
Adiciones durante el año | - | 1,234 |
Interés que se cobra | 93 | 39 |
pagos recibidos | - | - |
Balance al final del periodo | 1,366 | 1,273 |
10. Activos intangibles
Goodwill | Marcas comerciales y patentes | Propiedad intelectual | IP generada internamente | Acuerdos de franquicia | Búsqueda de aplicaciones | Portal | Total | |
| 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ |
Cost | ||||||||
A 31 de diciembre de 2022 | 19,640 | 86 | 10,195 | 1,864 | 4,623 | 100 | 377 | 36,885 |
Adiciones | - | - | - | 101 | - | - | 80 | 181 |
Disposiciones | - | - | - | - | - | - | - | - |
Adiciones derivadas de la adquisición | 1,785 | - | - | - | - | - | - | 1,785 |
Re-analysis | 1,339 | - | - | - | (1,636) | - | - | (297) |
Diferencias de conversión | - | - | - | - | - | - | - | 0 |
Al 31 de diciembre de 2023 | 22,764 | 86 | 10,195 | 1,965 | 2,987 | 100 | 457 | 38,554 |
Amortización acumulada | ||||||||
Al 31 de diciembre de 2022 | (1,393) | (73) | (10,195) | (971) | (1,143) | (100) | (314) | (14,189) |
Amortización | - | (7) | - | (206) | (460) | - | (38) | (712) |
Disposiciones | - | - | - | - | - | - | - | - |
Adiciones derivadas de adquisiciones | - | - | - | - | - | - | - | - |
Diferencias de conversión | - | - | - | - | - | - | - | - |
Al 31 de diciembre de 2023 | (1,393) | (80) | (10,195) | (1,177) | (1,603) | (100) | (352) | (14,901) |
Cantidades en libros | ||||||||
Al 31 de diciembre de 2022 | 18,247 | 13 | - | 893 | 3,480 | - | 63 | 22,696 |
Al 31 de diciembre de 2023 | 21,371 | 6 | - | 788 | 1,384 | - | 105 | 23,653 |
11. Combinación de negocios
Acquisition of BBB Chelmsford Ltd and BBB Ealing Limited
El 8 de junio de 2023 XP Factory Plc adquirió del mismo vendedor el 100% de la participación en BBB Chelmsford Limtied, y el 100% de la participación en BBB Ealing Limited, obteniendo así el control de ambas entidades. BBB Chelmsford Ltd gestiona un sitio Boom Battle Bar® situado en Chelmsford. BBB Ealing Ltd gestiona un sitio Boom Battle Bar® en Ealing y anteriormente operaba como sitios de franquicia.
The total purchase consideration is subject to potential adjustment based on a completion accounts process, with any adjustment being accounted for through varying the vendor loan amount. The vendor loan carries interest at 5% and is being paid off in twenty four equal monthly instalments. The balance payable as at 31 December 2023 was £230.2k, which is based on an initial assessment of the completion accounts balances. The Completion accounts are due to be finalized on or before 1 June 2024.
El detalle de la combinación de negocios y la asignación del valor razonable estimado de la contraprestación es el siguiente:
BBB Chelmsford Ltd 000 £ | BBB Ealing Ltd. 000 £ | Total 000 £ | |
Valor razonable de la contraprestación transferida | |||
Cantidades liquidadas en efectivo | 78 | 7 | 85 |
préstamo de proveedor | 254 | 191 | 445 |
Consideración de compra total | 332 | 198 | 530 |
BBB Chelmsford Ltd | Valor en libros 000 £ | Ajuste del valor razonable £'000 | Valor razonable £'000 |
Activos y pasivos reconocidos como resultado de la adquisición | |||
efectivo | 98 | - | 98 |
Otras cuentas por cobrar y depósitos | 62 | - | 62 |
Propiedad, planta y equipo. | 630 | - | 630 |
Activos por derecho de uso | - | 917 | 917 |
Comercio a pagar | (64) | - | (64) |
Inventario | 15 | 15 | |
Pasivos por arrendamiento | - | (1,077) | (1,077) |
Préstamos | (534) | - | (531) |
Otras cuentas por pagar | (441) | 160 | (281) |
Activos netos identificables adquiridos | (234) | - | (234) |
Fondo de comercio derivado de la consolidación | - | 566 | 566 |
Total | (234) | 566 | 332 |
No había cuentas por cobrar comerciales presentes en la empresa a la fecha de adquisición.
The excess of the total consideration over the net identifiable assets acquired of £566k has been analysed and it has all been recognised as goodwill. This goodwill is primarily related to growth expectations, expected future profitability and the expertise and experience of BBB Chelmsford's workforce. Goodwill has been allocated to the owner operated segment and is not expected to be deductible for tax purposes.
BBB Chelmsford Ltd contributed revenues of £985k and a net profit of 112k in the period between acquisition and 31 December 2023.
BBB Ealing Ltd. | Valor en libros 000 £ | Ajuste del valor razonable £'000 | Valor razonable £'000 |
Activos y pasivos reconocidos como resultado de la adquisición | |||
efectivo | 70 | - | 70 |
Otras cuentas por cobrar y depósitos | 12 | - | 172 |
Propiedad, planta y equipo. | 673 | - | 673 |
Activos por derecho de uso | - | 1,177 | 1,177 |
Comercio a pagar | (193) | - | (193) |
Inventario | 12 | 12 | |
Pasivos por arrendamiento | - | (1,483) | (1,483) |
Préstamos | (426) | - | (426) |
Otras cuentas por pagar | (732) | 306 | (436) |
Activos netos identificables adquiridos | (584) | - | (584) |
Fondo de comercio derivado de la consolidación | - | 782 | 782 |
Total | (584) | 782 | 198 |
No había cuentas por cobrar comerciales presentes en la empresa a la fecha de adquisición.
Se ha analizado el exceso de la contraprestación total sobre los activos netos identificables adquiridos de 782 libras esterlinas y se ha reconocido todo como fondo de comercio. Este fondo de comercio está relacionado principalmente con las expectativas de crecimiento, la rentabilidad futura esperada y los conocimientos y experiencia de la fuerza laboral de BBB Ealing. La plusvalía se ha asignado al segmento operado por el propietario y no se espera que sea deducible a efectos fiscales.
BBB Ealing Ltd contributed revenues of £638k and a net loss of 42k in the period between acquisition and 31 December 2023.
Acquisition of BBB Liverpool Ltd
Effective 1 November 2023 XP Factory Plc acquired 100% of the equity interest in BBB Liverpool Limited thereby obtaining control of the entity. BBB Liverpool Ltd runs a Boom Battle Bar® site situated in Liverpool and previously operated as a franchise site.
The total purchase consideration is subject to potential adjustment based on a completion accounts process, with any adjustment being accounted for through varying the deferred consideration. The deferred consideration carries no interest and is repayable in a single instalment at the later of six months after completion and the date on which the completion accounts are finalised. The deferred consideration provided as at 31 December 2023 was £31k, which is based on an initial assessment of the completion accounts balances. .
The details of the business combination and the allocation of the estimated fair value of the consideration are as follows:
Total 000 £ | |
Valor razonable de la contraprestación transferida | |
Cantidades liquidadas en efectivo | 69 |
Consideración diferida | 31 |
Transfer of debt payable to XP Factory group | (85) |
Consideración de compra total | 15 |
BBB Liverpool Ltd | Valor en libros 000 £ | Ajuste del valor razonable £'000 | Valor razonable £'000 |
Activos y pasivos reconocidos como resultado de la adquisición | |||
efectivo | 6 | - | 6 |
Otras cuentas por cobrar y depósitos | 13 | - | 19 |
Propiedad, planta y equipo. | 278 | - | 278 |
Comercio a pagar | (37) | - | (37) |
Inventario | 3 | - | 3 |
Préstamos | (132) | - | (132) |
Otras cuentas por pagar | (282) | 112 | (108) |
Activos netos identificables adquiridos | (150) | - | (38) |
Fondo de comercio derivado de la consolidación | - | 53 | 53 |
Total | (150) | 165 | 15 |
No había cuentas por cobrar comerciales presentes en la empresa a la fecha de adquisición.
Se ha analizado el exceso de la contraprestación total sobre los activos netos identificables adquiridos de 54 libras esterlinas y se ha reconocido todo como fondo de comercio. Este fondo de comercio está relacionado principalmente con las expectativas de crecimiento, la rentabilidad futura esperada y los conocimientos y experiencia de la fuerza laboral de BBB Ealing. La plusvalía se ha asignado al segmento operado por el propietario y no se espera que sea deducible a efectos fiscales.
BBB Liverpool Ltd contributed revenues of £145k and a net profit of 36k in the period between acquisition and 31 December 2023.
Acquisition of BBB Five Ltd
Effective 1 November 2023 XP Factory Plc acquired 100% of the equity interest in BBB Five Limited thereby obtaining control of the entity. BBB Five Ltd runs a Boom Battle Bar® site situated in Glasgow and previously operated as a franchise site.
The total purchase consideration is subject to potential adjustment based on a completion accounts process, with any adjustment being accounted for through varying the vendor loan. The vendor loan carries interest at 5% per annum and is repayable in monthly instalments over 18 months. The outstanding vendor consideration provided as at 31 December 2023 was £65k, which is based on an initial assessment of the completion accounts balances. .
The details of the business combination and the allocation of the estimated fair value of the consideration are as follows:
Total 000 £ | |
Valor razonable de la contraprestación transferida | |
Cantidades liquidadas en efectivo | 10 |
préstamo de proveedor | 65 |
Consideración de compra total | 75 |
BBB Five Ltd | Valor en libros 000 £ | Ajuste del valor razonable £'000 | Valor razonable £'000 |
Activos y pasivos reconocidos como resultado de la adquisición | |||
efectivo | 59 | 59 | |
Otras cuentas por cobrar y depósitos | 3 | 3 | |
Propiedad, planta y equipo. | 230 | 230 | |
Activos por derecho de uso | 1,576 | 1,576 | |
Comercio a pagar | (40) | (40) | |
Inventario | 27 | 27 | |
Pasivos por arrendamiento | (1,825) | (1,825) | |
Préstamos | (199) | (199) | |
Otras cuentas por pagar | (390) | 249 | (141) |
Activos netos identificables adquiridos | (310) | - | (310) |
Fondo de comercio derivado de la consolidación | - | 385 | 385 |
Total | (310) | 385 | 75 |
No había cuentas por cobrar comerciales presentes en la empresa a la fecha de adquisición.
Se ha analizado el exceso de la contraprestación total sobre los activos netos identificables adquiridos de 782 libras esterlinas y se ha reconocido todo como fondo de comercio. Este fondo de comercio está relacionado principalmente con las expectativas de crecimiento, la rentabilidad futura esperada y los conocimientos y experiencia de la fuerza laboral de BBB Ealing. La plusvalía se ha asignado al segmento operado por el propietario y no se espera que sea deducible a efectos fiscales.
BBB Five Ltd contributed revenues of £273k and a profit of 112k in the period between acquisition and 31 December 2023.
Acquisition of Boom Battle Bar Watford
Effective 10 December 2023 XP Factory Plc acquired the operating assets and trade relating to the Boom Battle Bar® site in Watford ("Boom Watford").
The total purchase consideration is subject to potential adjustment based on a completion accounts process, with any adjustment being accounted for through varying the vendor loan. The vendor loan carries no interest and is repayable in monthly instalments over 24 months. The outstanding vendor consideration provided as at 31 December 2023 was £229k, which is based on an initial assessment of the completion accounts balances.
The details of the business combination and the allocation of the estimated fair value of the consideration are as follows:
Total 000 £ | |
Valor razonable de la contraprestación transferida | |
Cantidades liquidadas en efectivo | 134 |
préstamo de proveedor | 229 |
Consideración de compra total | 363 |
Boom Battle Bar® Watford | Valor en libros 000 £ | Ajuste del valor razonable £'000 | Valor razonable £'000 |
Activos y pasivos reconocidos como resultado de la adquisición | |||
Otras cuentas por cobrar y depósitos | 9 | - | 9 |
Propiedad, planta y equipo. | 509 | - | 509 |
Comercio a pagar | (23) | - | (23) |
Inventario | 7 | - | 7 |
Préstamos | (95) | - | (95) |
Otras cuentas por pagar | (44) | - | (44) |
Activos netos identificables adquiridos | 363 | - | 363 |
Fondo de comercio derivado de la consolidación | - | - | - |
Total | 363 | - | 363 |
No había cuentas por cobrar comerciales presentes en la empresa a la fecha de adquisición.
Boom Watford contributed revenues of £93k and a profit of 35k in the period between acquisition and 31 December 2023.
12. Provisiones
Como en 31 de diciembre 20223 | Al 31 de diciembre de 2022 | |
000 £ | 000 £ | |
| ||
Provisión para contraprestación contingente | - | 4,113 |
Provisión para consideración diferida | 41 | 857 |
Disposiciones sobre deterioro | 455 | 314 |
Provisión para contratos de garantía financiera | 70 | 94 |
Otras provisiones | - | 5 |
Provisiones al final del período | 566 | 5,383 |
Vencimiento dentro de un año | 41 | 4,970 |
Vencimiento después de más de un año | 525 | 413 |
566 | 5,383 | |
El movimiento de provisiones en el período se puede analizar de la siguiente manera: |
Consideración contingente | Consideración diferida | dilapidaciones | Contratos de garantía financiera | Otro | Total | |
| 000 £ | 000 £ | 000 £ | 000 £ | 000 £ | 000 £ |
Costo: |
| |||||
Al 31 de diciembre de 2021 | 9,056 | 637 | 162 | 26 | 5 | 9,886 |
Adiciones derivadas de la adquisición | - | 600 | - | - | - | 600 |
Provisiones reconocidas | 1,267 | - | 152 | 68 | - | 1,487 |
Revaluación del valor razonable | (6,210) | - | - | - | - | (6,210) |
Lanzamientos reconocidos | - | (380) | - | - | - | (380) |
Al 31 de diciembre de 2022 | 4,113 | 857 | 314 | 94 | 5 | 5,383 |
Adiciones derivadas de la adquisición | - | 41 | - | -- | 41 | |
Provisiones reconocidas | - | 112 | 141 | 253 | ||
Estrenos en el año | (4,133) | (969) | - | (24) | (5) | (5,111) |
A diciembre de 2023 | - | 41 | 455 | 70 | - | 566 |
13. Pasivos por arrendamiento
Doce meses terminaron 31 de diciembre 2023 | Doce meses terminaron 31 de diciembre 2022 | |
000 £ | 000 £ | |
Con respecto a los activos por derecho de uso | ||
Saldo al inicio del período | 24,039 | 8,405 |
Cierres / arrendamientos terminados para renegociación durante el período | - | (501) |
Adiciones durante el período | 5,734 | 16,252 |
Intereses incurridos | 1,836 | 1,086 |
Reembolsos durante el período | (2,331) | (1,186) |
Concesiones de alquiler recibidas | - | (33) |
Reasignado de acumulaciones y acreedores comerciales | 36 | 16 |
Pasivos por arrendamiento al final del período | 29,314 | 24,039 |
|
Como en 31 diciembre 2022 | Como en 30 DIC 2021 | |
000 £ | 000 £ | |
Madurez | ||
< 1 mes | 256 | 76 |
1 - 3 meses | 442 | 119 |
3 - 12 meses | 1,122 | 878 |
No corriente | 27,494 | 22,965 |
Pasivos totales por arrendamiento | 27,314 | 24,039 |
14. Préstamos y notas de préstamo
| Como en | Como en |
31 diciembre 2023 | 31 diciembre 2022 | |
000 £ | 000 £ | |
Cantidades adeudadas dentro de un año | ||
Préstamos de proveedores y notas de préstamo | 996 | 472 |
Fit out finance, including equipment finance leases | 802 | 361 |
Préstamos bancarios y otros | 387 | 224 |
| 2,185 | 1,057 |
Cantidades adeudadas en más de un año: | ||
Préstamos de proveedores y notas de préstamo | 489 | - |
Equipar las finanzas | 838 | 333 |
Préstamos bancarios y otros | 942 | 90 |
Al final del período / año
| 2,269 | 423 |
Total al final del periodo/año | 4,454 | 1,480 |
On 22 November 2021, the Company issued £360,000 vendor loan notes to MFT Capital Limited as part of the consideration for the acquisition of Boom Battle Bars ("Boom Notes"). The Boom Notes are unsecured and carry interest at 5 per cent per annum. During 2022, the redemption date for the Boom Notes was extended to the second anniversary of the transaction in connection with the acquisition of Boom Battle Bar® Cardiff Limited. The acquisition of Boom East Limited (Boom Norwich) also utilised vendor financing, of which £8k was outstanding at 31 December 2022. All these amounts were fully repaid during the year.
During the year, the Group acquired BBB Chelmsford Limited, BBB Ealing Ltd, BBB Liverpool Limited, BBB Five Limited and the trade and business of Boom Battle Bar® Watford, more details of which are set out in note 11. Some of these acquisitions had founder loans which have been taken on as part of the acquisitions, and in all cases part of the purchase prices has been funded by further vendor loans. Total vendor loans outstanding at 31 December 2023 was £1,485k.
The Group has utilised asset backed fit-out finance and has used an unsecured loan to fund fit outs in certain Boom and Escape Hunt® locations, has a number of small bank loans in certain subsidiaries, and uses a loan facility to spread the cost of insurance over the year.
15. Capital social
Doce meses terminó | Año terminó | |
31 diciembre 2023 | 31 diciembre 2022 | |
Sin auditar | auditado | |
000 £ | 000 £ | |
Al comienzo del período/año - 150,633,180 (2022: 146,005,098) Acciones ordinarias de 1.25 peniques cada una | 1,833 |
1,825 |
Emitido durante el periodo/año - 23,924,420 acciones ordinarias (2022: 4,628,082 acciones ordinarias) | 299 |
58 |
Al final del período / año - 174,557,600 (2021: 150,633,180) Acciones ordinarias de 1.25 peniques cada una | 2,182 |
1,883 |
During the twelve months ended 31 December 2023 the Company issued 23,924,420 to MFT Capital Limited in relation to the deferred earn-out consideration for the acquisition of Boom Battle Bars, as described in the announcement on 3 November 2021.
Planes de incentivos y opciones sobre acciones
Plan de incentivos de gestión empresarial de XP Factory plc
On 15 July 2020, the Company established the XP Factory plc Enterprise Management Incentive Plan ("2020 EMI Plan"). The 2020 EMI Plan is an HMRC approved plan which allows for the issue of "qualifying options" for the purposes of Schedule 5 to the Income Tax (Earnings and Pensions) Act 2003 ("Schedule 5"), subject to the limits specified from time to time in paragraph 7 of Schedule 5, and also for the issue of non-qualifying options.
La intención de la Junta es otorgar premios en el marco del Plan EMI 2020 para atraer y retener a los empleados de alto nivel. El Plan EMI 2020 está disponible para los empleados cuyo tiempo comprometido sea de al menos 25 horas por semana o el 75% de su "tiempo de trabajo" y que no estén excluidos de dicha participación por el párrafo 28 del Anexo 5 (sin interés material). El Plan EMI 2020 expirará en el décimo aniversario de su formación.
The Company has made four awards to date as set out in the table below. The options are exercisable at their relevant exercise prices and vest in three equal tranches on each of the first, second and third anniversary of the grants, subject to the employee not having left employment other than as a Good Leaver. The number of options that vest are subject to a performance condition based on the Company's share price. This will be tested in the period up to each vesting date and again between the third and fourth anniversaries of awards. If the Company's share price at testing equals the first vesting price, one third of the vested options will be exercisable. If the Company's share price at testing equals the second vesting price, 90 per cent of the vested options will be exercisable. If the Company's share price at testing equals or exceeds the third vesting price, 100% of the vested options will be exercisable. The proportion of vested options exercisable for share prices between the first and second vesting prices will scale proportionately from one third to 90 per cent. Similarly, the proportion of options exercisable for share prices between the second and third vesting prices will scale proportionately from 90 per cent to 100 per cent.
Todas las opciones se otorgarán en el caso de una adquisición. Si el precio de adquisición es igual o inferior al precio de ejercicio, no se podrá ejercer ninguna opción. Si el precio de adquisición es mayor o igual que el segundo precio de consolidación, el 100 por ciento de las opciones serán ejercitables. La proporción de opciones ejercitables entre el primer y el segundo precio de adquisición se escalará proporcionalmente de cero a 100 por ciento.
If not exercised by the expiry date, the options will expire. Options exercised will be settled by the issue of ordinary shares in the Company.
Premios y galardones | #1 | #2 | #3 | #4 |
Fecha del premio | 15-Jul-20 | 18-Nov-21 | 23-Nov-21 | 15-Dic-23 |
Fecha de expiración | 15-Jul-25 | 18-Nov-26 | 23-Nov-26 | 31-Jul-30 |
Precio de ejercicio | 7.5p | 35.0p | 35.0p | 15.0p |
Premios calificados - número de acciones bajo opción | 13,333,332 | 700,001 | 533,334 | 0 |
Premios no calificados - número de acciones bajo opción | 2,400,000 | 0 | 0 | 666,666 |
Primer precio de consolidación | 11.25p | 43.75p | 43.75p | |
Segundo precio de consolidación | 18.75p | 61.25p | 61.25p | 18.75p |
Tercer precio de consolidación | 25.00p | 70.00p | 70.00p | 25.00p |
Proporción de adjudicaciones otorgadas al primer precio de adjudicación | 33.33% | 33.33% | 33.33% | 26.25p |
Proporción de adjudicaciones otorgadas al segundo precio de adjudicación | 90.00% | 90.00% | 90.00% | 33.33% |
Proporción de adjudicaciones otorgadas al tercer precio de adjudicación | 100% | 100% | 100% | 90.00% |
Opciones adquiridas | 15,733,734 | - | - |
As at 31 December 2023, 17,366,666 options were outstanding under the 2020 EMI Plan (31 Dec 2022: 16,700,000) exercisable at the prices shown above. No options were exercised during the period, and no options expired or had lapsed. As at 31 December 2023 15,733,734 options had vested.
The sum of £45,422 has been recognised as a share-based payment and charged to the profit and loss during the period (2022: £68,535). The fair value of the options granted during the period has been calculated using the Black & Scholes formula with the following key assumptions:
Tabla 2 |
| |||
Premios y galardones | #1 | #2 | #3 | #4 |
Precio de ejercicio | 7.5p | 35.0p | 35.0p | 15.0p |
Volatilidad | 34.60% | 31% | 31% | 35.0% |
Precio de la acción en la fecha de adjudicación | 7.375p | 33.50p | 32.00p | 15.00p |
Fecha de ejercicio de la opción | 15-Jul-24 | 18-Nov-25 | 23-Nov-25 | 31-Jul-29 |
Tasa libre de riesgo | - 0.05% | 1.55% | 1.55% | 3.50% |
Las condiciones de desempeño se tuvieron en cuenta de la siguiente manera:
Luego, el valor de las opciones se ha ajustado para tener en cuenta los obstáculos de rendimiento asumiendo una distribución logarítmica normal de los rendimientos del precio de las acciones, con base en un rendimiento esperado en la fecha de emisión. Esto da como resultado el rendimiento esperado medio calculado utilizando una distribución logarítmica normal que iguala el rendimiento de mercado implícito en la fecha de emisión, lo que valida que el rendimiento esperado relativo a la volatilidad es proporcionalmente correcto. Luego, esto se usó para calcular una probabilidad implícita de que se lograran los obstáculos de rendimiento dentro de la ventana de cuatro años y el valor de la opción derivada de Black & Scholes se ajustó en consecuencia.
Adquisición basada en el tiempo: Se ha asumido que existe entre un 90% y un 95% de probabilidad de que todos los titulares de opciones sobre acciones permanezcan en cada concesión en cada año consecutivo a partir de entonces.
The weighted average remaining contractual life of the options outstanding at 31 December 2023 is 21.9 months (31 Dec 2022: 31.7 months).
Un tenedor de opciones no tiene derecho a voto o dividendos en la Compañía antes del ejercicio de una opción sobre acciones.
Escape Hunt® Employee Share Incentive Scheme
In November 2020, the Company established the Escape Hunt® Share Incentive Plan ("SIP").
El SIP se adoptó para promover y apoyar los principios de una propiedad accionaria más amplia entre todos los empleados de la Compañía. El Plan está disponible para todos los empleados elegibles, incluidos los directores ejecutivos de Escape Hunt®, e invita a las personas a elegir comprar acciones ordinarias de 1.25 peniques cada una en la Compañía a través del administrador SIP utilizando deducciones salariales mensuales. El administrador de SIP compra acciones mensualmente en nombre de los empleados participantes al precio de mercado vigente. Las elecciones individuales pueden costar tan sólo £10 por mes, pero no pueden, en conjunto, exceder £1,800 por empleado en un año fiscal determinado. Las Acciones Ordinarias adquiridas de esta manera se denominan "Acciones de Sociedad" y, por cada Acción de Sociedad adquirida, los participantes reciben una Acción Ordinaria adicional, conocida como "Acción de Contrapartida", sin costo alguno.
Las Acciones de Igualación normalmente deben mantenerse en el SIP por un período mínimo de tenencia de 3 años y, salvo en ciertas circunstancias excepcionales, se perderán si, durante ese período, el participante en cuestión deja de trabajar o retira sus Acciones de Sociedad correspondientes del Plan. .
In the twelve months to 31 December 2023 182,080 matching shares were awarded through the scheme (2022: 119,831). A charge of £16.3k has been recognised through the profit and loss account. (2022: £12.6k)
16. Compensación del personal de gestión clave
Doce meses terminó |
Doce meses terminó | |
31 diciembre 2023 | 31 diciembre 2022 | |
| Sin auditar | Sin auditar |
000 £ | 000 £ | |
Salarios y beneficios (incluidos los directores) | 898 | 653 |
Pagos basados en acciones | 20 | 40 |
Costos de seguridad social | 151 | 90 |
Otros beneficios post-empleo | 18 | 26 |
Menos importes capitalizados | (108) | (85) |
Total | 979 | 732 |
17. Transacciones con partes relacionadas
During the period under review, the Directors are not aware of any significant transactions with related parties (twelve months ended 31 December 2022: nil).
18. Eventos subsecuentes
No existen hechos posteriores significativos que requieran ser revelados.
19. Principal Risks and uncertainties
A detailed description of the principal risks and uncertainties associated with the Group can be found on pages 25 to 28 of the 2022 Annual Report and remain relevant at the date of this interim report. A copy of the 2022 Group Annual Report is available on the Group's website at https://www.xpfactory.com/investors/documents
DATOS DE LA EMPRESA
directiva
Richard Rose, presidente no ejecutivo independiente
Richard Harpham, director ejecutivo
Graham Bird, director financiero
Martin Shuker, director no ejecutivo
Philip Shepherd, director no ejecutivo
Secretaria de Empresa
Joanne Briscoe
Numero de compañia
10184316
Dirección registrada
Boom Battle Bar® Oxford Street
Planta baja y sótano, 70-88 Oxford Street
Londres, Inglaterra
W1D 1BS
Los auditores independientes
HW Fisher LLP
casa de acre
11-15 William Rd
Londres
NO1 3ER
asesor designado y broker
Asesor de mercados de capital Singer LLP
Un carril de Bartholomew
Londres
EC2N 2AX
Registradores
Servicios de mercado de enlaces limitados
29 Wellington Street
Leeds
LS1 4DL
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